CELLCOM ISRAEL LTD

Ticker: CELJF CUSIP: M2196U109 Class: Common Stock

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

Note: Option positions (PUT/CALL) are excluded.

Q4 2017

Shares 1,359,744 Value ($000) $14,022 Avg Close $9.70 Range $9.01 - $10.50

Q3 2017

Shares 1,535,988 Value ($000) $14,301 Avg Close $9.17 Range $8.33 - $9.86

Q4 2015

Shares 212,300 Value ($000) $5,144 Avg Close $6.97 Range $5.78 - $8.09

Q3 2015

Shares 357,452 Value ($000) $8,793 Avg Close $5.93 Range $3.53 - $7.20

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2017	1,359,744	$14,022	$9.70	$9.01 - $10.50
Q3 2017	1,535,988	$14,301	$9.17	$8.33 - $9.86
Q4 2015	212,300	$5,144	$6.97	$5.78 - $8.09
Q3 2015	357,452	$8,793	$5.93	$3.53 - $7.20